Organon & Co. (NYSE:OGN – Get Rating) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 6,360,000 shares, a decrease of 17.0% from the May 15th total of 7,660,000 shares. Based on an average trading volume of 1,820,000 shares, the short-interest ratio is presently 3.5 days. Currently, 2.5% of the shares of the stock are sold short.
A number of analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Organon & Co. in a research note on Wednesday, April 27th. They set a “buy” rating and a $40.00 target price for the company. Morgan Stanley dropped their price objective on shares of Organon & Co. from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $39.20.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Organon & Co. by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 29,156,417 shares of the company’s stock valued at $1,018,434,000 after buying an additional 381,744 shares during the last quarter. BlackRock Inc. grew its position in Organon & Co. by 1.7% during the 4th quarter. BlackRock Inc. now owns 16,900,502 shares of the company’s stock worth $514,618,000 after purchasing an additional 282,348 shares during the last quarter. State Street Corp grew its position in Organon & Co. by 27.8% during the 1st quarter. State Street Corp now owns 11,958,385 shares of the company’s stock worth $417,706,000 after purchasing an additional 2,599,728 shares during the last quarter. Bank of New York Mellon Corp grew its position in Organon & Co. by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 8,429,956 shares of the company’s stock worth $294,458,000 after purchasing an additional 99,856 shares during the last quarter. Finally, Mawer Investment Management Ltd. purchased a new position in Organon & Co. during the 1st quarter worth $289,752,000. Institutional investors own 70.85% of the company’s stock.
Organon & Co. (NYSE:OGN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.31 by $0.34. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a net margin of 20.42% and a negative return on equity of 103.33%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS. Analysts forecast that Organon & Co. will post 5.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Monday, May 16th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.12 dividend on an annualized basis and a yield of 3.33%. Organon & Co.’s dividend payout ratio (DPR) is presently 21.96%.
Organon & Co. Company Profile (Get Rating)
Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.
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